What is Levy Bond?

What is Foreign Worker Levy Bond?

What is the difference between levy and bond for levy?

Is levy bond applicable for which sector in Singapore?

Is there additional requirement pertaining to levy for foreign workers in construction sector?

These requirements are additional and specific to the construction sector.

You will have to pay a levy bond for each Work Permit holder if:

• Your workers’ Work Permits have been revoked because of unpaid levies.
• You have been late in levy payments for at least 3 times in a 12-month period.
• Your sole proprietorship has changed owner.
• You are starting a new business entity to employ foreign workers. The business entities include:
  • Sole-proprietorship.
  • Partnership.
  • Incorporated business that has a paid-up capital of less than $50,000.

How much to pay

The amount of levy bond you need to pay depends on the worker’s skill level.